US Housing Market Data Response Case-Shiller/FHFA & New Home Sales (Mar./Apr.) House price growth accelerated in March, reaching a record high of 13.9% y/y on the FHFA measure. But there are signs that the boom in prices is now weighing on housing demand and activity. New home... 25th May 2021 · 2 mins read
US Housing Market Data Response Existing Home Sales (Apr.) Existing home sales recorded another decline in April and are down 13% from the peak last October. Home sales are being constrained by record low inventory, which will continue to weigh on housing... 21st May 2021 · 2 mins read
US Housing Market Update Outlook bright for home improvement spending Booming home sales, record low inventory, the shift to working from home and a surge in savings have all helped boost home improvement spending over the past three quarters. While home sales are set... 19th May 2021 · 3 mins read
RBNZ Watch Housing mandate won’t change the Bank’s outlook While the Bank will acknowledge the new house price requirements in its remit it is unlikely to respond to them with immediate policy changes. On that basis we expect the RBNZ to keep policy settings... 19th May 2021 · 8 mins read
US Housing Increased demand for larger apartments to persist Increased demand for larger apartments to accommodate working from home is already evident in NYC, where the inventory of units with two or more bedrooms has seen a sharper decline compared to smaller... 14th May 2021 · 3 mins read
US Housing Market Chart Pack Worsening affordability hits home buying sentiment Mortgage rates have edged down since the end of March, but that didn’t prevent a fall in the share of households who see now as a good time to buy a home to a record low in April. House price growth... 12th May 2021 · 9 mins read
Australia & New Zealand Chart Pack Economic recovery facilitates house price surge House prices are now surging in both countries. House price cycles in the Australian housing market tend to lag those in New Zealand a little, which is consistent with the forward indicators pointing... 29th April 2021 · 11 mins read
China Economic Outlook Rebound levelling off After treading water in Q1, activity should pick up again this quarter following the relaxation of domestic travel restrictions. But growth will be more modest than most expect over the next couple of... 28th April 2021 · 2 mins read
India Chart Pack Virus restrictions start to bite Our in-house mobility tracker suggests that the surge in virus infections in India is now weighing on activity. This is likely to become more pronounced as the outbreak has become more widespread... 21st April 2021 · 10 mins read
Canada Data Response Teranet House Prices (Mar.) House price inflation according to the Teranet index surpassed 10% in March for the first time since 2017, and the high sales-to-new listing ratio implies it will continue to accelerate. 20th April 2021 · 2 mins read
US Housing Market Outlook Higher mortgage rates to cool red hot housing market After a bumper second half of 2020, housing market activity will lose steam in 2021 as higher mortgage interest rates and record low inventory weigh on home sales. House price growth will also fall... 19th April 2021 · 17 mins read
China Data Response China GDP (Q1), Activity & Spending (Mar.) China’s GDP growth jumped to a record high in y/y terms last quarter. But this was entirely due to a weaker base for comparison from last year’s historic downturn. In q/q terms, growth dropped back... 16th April 2021 · 3 mins read
Australia & New Zealand Economics Weekly Financial stability risks to come back onto the radar The RBA is sticking to its upbeat assessment of Australian households’ financial resilience. But if credit growth picks up and lending standards slip, we think APRA may intervene before long. We now... 16th April 2021 · 5 mins read
UK Housing Market Data Response RICS Residential Market Survey (Mar.) The extension of the stamp duty holiday has given the ongoing housing market boom renewed momentum and could push house price inflation up from 6% in March well into double figures by the summer. 8th April 2021 · 2 mins read
Asia Economics Update Korea: time to worry about rising property prices? Rapidly rising property prices have become a big political issue in Korea, but they don’t pose a significant threat to the economy. 6th April 2021 · 3 mins read
Australia & New Zealand Economics Weekly Booming housing & labour markets The RBA and APRA seem to be washing their hands of responsibility for skyrocketing house prices. But we think the likely surge in credit growth in the months ahead means that APRA will be forced to... 1st April 2021 · 4 mins read
